Investors often overlook SEC filings, and it is the job of the 10Q Detective to dig through businesses’ 8-K and 10-Q SEC filings, looking for financial statement ‘soft spots,'(depreciation policies, warranty reserves, and restructuring charges, etc.)that may materially impact Quality of Earnings.

Sunday, July 20, 2008

Weekend Beach Reading: July 21, 2008

Canadian Solar (CSIQ-$31.31) said Monday that it shipped about 47 megawatts of solar module products during the second-quarter ended June 30, up from its previous forecast of 45 megawatts. A strong demand equation, however, requires additional funding to finance expansion capacity, which will pressure operating margins.

Continental Resources (CLR-$69.40) reported that its second Bakken shale well in a promising area of North Dakota flowed at an average rate of 1,095 barrels of crude oil equivalent per day (boepd), or about 58 percent higher than the first hole did in its initial week of production in May. Continental, which is the largest leaseholder in this emerging shale play with about 487,000 acres, has been reticent about whether or not it has the water rights needed to develop its potential reserves.

Bermuda-based Frontline (FRO-$62.23), the leading oil tanker in vessels capable of carrying between 120,000 and 320,000 in deadweight tons, wants to talk with the management of Overseas Shipholding Group (OSG-$80.58) about a possible deal. As control of supply slips further from the grasp of OPEC-member nations, could a Gulf oil-producing nation look to acquire an oil tanker company?

Editor David J. Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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About Me

Prior to founding the 10Q Detective, I held equity analyst positions with three brokerage firms and published the investment newsletter e-Growth Profit Letter - dedicated to uncovering companies with innovative, proprietary technologies in a range of industries. My work has been published in The Dick Davis Digest, The Bull & Bear Financial Report, BusinessWeek, CBS Interactive, Forbes, Kiplingers Personal Finance, MSN Money, TheStreet.com, 24/7 Wall Street, The Wall St. Journal, The International Herald Tribune, and Investors Business Daily.
The 10Q Detective is recommended as a 'Must-Read' money blog in Kiplingers (Oct. 2006 & May 2008), Washington Post (May 2009); a 'Best of Financial Blog' by BusinessWeek (Feb. 2007 & April 2008),a 'Smart Stop' by The Journal of Accountancy (March 2008); 'Top 25' by Time magazine, a 'Top 50 Money Blog' by CurrencyTrading.net (April 2008); and, a 2011 LexisNexis Business Law Blog Nominee.